Rents are right about where Covington's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,491 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
October. Asking rents in Covington usually run 0.6% below trend in October and 0.8% above it in July, about $35 a month apart at today's median. Based on 5 years of data.
Rent in Covington is at its highest level since Zillow's records here began in March 2021.
Rent in Covington changed +6.6% over the year to September 2026. Across the 97 Washington cities Zillow tracks, the typical change was +2.6%.
Rent has risen 7 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($134,502) is $3,363 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,760); a 3-bedroom is $3,640.
Kent, 5 miles away, rents for 21% less ($1,958/mo), about $6,400 a year in savings.
From Zillow's monthly rent index (ZORI) for Covington. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Covington, WA is majority owner-occupied, has a median income above the national average, 37.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Covington, WA has changed in 5 years
Rent in Covington, WA has climbed 39.3% since 2021, going from about $1,788 per month to roughly $2,491 today. Local incomes tracked alongside that move, going from a median of $114,247 in 2021 to $134,502 more recently. Rent outpaced income growth by roughly 21.6 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 20,608 to 21,233 between 2021 and 2024, a 3.0% change. About 21.1% of households rent today, against 19.5% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 31.8% to 37.3%. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Covington, WA market of 2021.
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Can you afford rent in Covington on your salary?
At $2,491/mo, how Covington rent compares to typical pay (30% rule).
Covington rent by bedroom count
Median rent for each apartment size in Covington. Click any size for full breakdown.
Tips for renters in Covington
Last updated: October 17, 2026
The median rent in Covington is $2,491/mo as of October 2026. A studio apartment averages $2,310/mo while a 2-bedroom runs $2,760/mo. One-bedroom apartments average $2,370/mo and 3-bedroom units go for $3,640/mo.
At 22% of local median household income ($134,502/yr), Covington ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.6% over the past year.
Frequently asked questions
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How does Covington rent compare to other cities in Washington?
At $2,491/mo, rent takes ~22% of Covington's median household income ($134,502/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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